PFG Investments LLC Lowers Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

PFG Investments LLC lessened its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,050 shares of the real estate investment trust’s stock after selling 725 shares during the quarter. PFG Investments LLC’s holdings in Apple Hospitality REIT were worth $175,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its position in Apple Hospitality REIT by 3.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 859 shares during the period. State Board of Administration of Florida Retirement System raised its position in Apple Hospitality REIT by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after acquiring an additional 1,050 shares in the last quarter. Aurora Investment Counsel raised its position in Apple Hospitality REIT by 4.5% in the first quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust’s stock worth $439,000 after acquiring an additional 1,156 shares in the last quarter. Blue Trust Inc. grew its holdings in Apple Hospitality REIT by 15.5% in the second quarter. Blue Trust Inc. now owns 9,657 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,299 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Apple Hospitality REIT by 5.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 26,598 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 1,357 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

APLE stock opened at $14.28 on Friday. The company has a market cap of $3.46 billion, a PE ratio of 16.60 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $14.39 and a two-hundred day moving average price of $14.94.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s payout ratio is 111.63%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wedbush started coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Oppenheimer reduced their price objective on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.25.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the purchase, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by company insiders.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.